The Morrison Government has established an innovative new dashboard which will allow government and industry to respond more quickly to workforce trends. The launch of the 'Nowcast of Employment by Region and Occupation or 'NERO' dashboard equips decision makers with monthly workforce insights to help drive more targeted local responses.
The NERO data hub, created by the National Skills Commission, provides monthly information on 355 occupations across 88 regions in Australia available publicly. Until now, such detailed information was only easily available every five years through the Australian Bureau of Statistics.
NERO uses an emerging methodology called 'nowcasting' to highlight workforce trends faster. This differs to forecasting in that it does not rely on predicting or anticipating market trends. NERO data can be filtered by either occupation or region and is available for download in various formats.
Minister for Employment, Workforce, Skills, Small and Family Business, Stuart Robert, said the new source of labour market insights takes Australian workforce data into the 21st Century.
'Whether in business or in government we all know that good data drives good decisions, NERO takes us from a twice decade data cycle to monthly which is simply incredible,' Minister Robert said.
'NERO equips decisionmakers with a much better understanding of Australian workforce trends which will reduce risk and drive innovation and investment-a benefit to all Australians.
'By having access to this information each and every month, industry will be better placed than ever to respond to employment trends sooner, which is so important to our ongoing economic recovery.'
NERO currently covers data from September 2015 to August 2021. Future updates are expected to be released on the first Wednesday of each month.
NERO can be accessed at: www.nationalskillscommission.gov.au/our-work/nero
